Delek Logistics Partners (NYSE:DKL) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Delek Logistics Partners (NYSE:DKL) from a buy rating to a hold rating in a research note released on Friday morning.

Other equities research analysts also recently issued reports about the company. Truist Financial initiated coverage on Delek Logistics Partners in a report on Friday, April 19th. They issued a buy rating and a $46.00 target price for the company. Raymond James upgraded shares of Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price objective for the company in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $45.33.

Delek Logistics Partners Stock Down 0.8 %

NYSE DKL opened at $39.40 on Friday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.59 and a beta of 2.07. Delek Logistics Partners has a twelve month low of $36.50 and a twelve month high of $58.81. The stock has a fifty day simple moving average of $40.35 and a 200 day simple moving average of $44.07.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $254.15 million for the quarter, compared to analyst estimates of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. Research analysts expect that Delek Logistics Partners will post 3.48 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a $1.025 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.25. This represents a $4.10 annualized dividend and a dividend yield of 10.41%. Delek Logistics Partners’s dividend payout ratio is 145.52%.

Hedge Funds Weigh In On Delek Logistics Partners

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at $103,000. Strategic Financial Concepts LLC purchased a new position in Delek Logistics Partners in the 3rd quarter valued at approximately $492,000. Nomura Holdings Inc. purchased a new stake in shares of Delek Logistics Partners during the third quarter worth $210,000. Infrastructure Capital Advisors LLC lifted its position in shares of Delek Logistics Partners by 343.5% during the third quarter. Infrastructure Capital Advisors LLC now owns 223,208 shares of the oil and gas producer’s stock worth $9,368,000 after acquiring an additional 172,874 shares in the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Delek Logistics Partners by 13.1% in the third quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock worth $64,306,000 after acquiring an additional 177,242 shares during the period. 11.75% of the stock is currently owned by institutional investors.

About Delek Logistics Partners

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.